Watsco (NYSE:WSO) Now Covered by Northcoast Research

Northcoast Research started coverage on shares of Watsco (NYSE:WSO) in a report published on Friday morning, MarketBeat reports. The brokerage issued a neutral rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $491.25.

Watsco Trading Up 1.5 %

Watsco stock opened at $554.60 on Friday. The firm’s 50 day simple moving average is $499.99 and its 200 day simple moving average is $485.04. The firm has a market capitalization of $22.39 billion, a PE ratio of 42.86 and a beta of 0.88. Watsco has a 1-year low of $373.33 and a 1-year high of $555.42.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Watsco’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company posted $4.35 EPS. Research analysts forecast that Watsco will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WSO. Anchor Investment Management LLC lifted its position in shares of Watsco by 500.0% during the third quarter. Anchor Investment Management LLC now owns 228 shares of the construction company’s stock valued at $112,000 after buying an additional 190 shares during the last quarter. Tudor Financial Inc. acquired a new stake in shares of Watsco during the 3rd quarter worth approximately $588,000. Teachers Retirement System of The State of Kentucky grew its stake in Watsco by 0.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 34,467 shares of the construction company’s stock valued at $16,953,000 after acquiring an additional 220 shares during the period. Toronto Dominion Bank grew its stake in Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after acquiring an additional 1,038 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Watsco by 3.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,421 shares of the construction company’s stock worth $2,668,000 after purchasing an additional 172 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.